Young seeks dismissal of bankruptcy petition

Attorneys for Vince Young said Friday that the former NFL quarterback has settled his legal dispute with a New York lender and asked a federal judge to dismiss Young's voluntary Chapter 11 bankruptcy petition filed two weeks ago.

According to the six-page motion filed with U.S. Bankruptcy Judge David R. Jones, Young filed for bankruptcy protection Jan. 17 primarily to forestall debt collection efforts by Pro Player Funding, a New York lender that had a judgment with interest totaling approximately $2.5 million against Young stemming from a loan taken in his name during the 2011 NFL lockout.

Young, 30, has reached a resolution with Pro Player Funding, according to the motion, and therefore is asking for the Chapter 11 case to be dismissed.

"The objectives of this bankruptcy case have been fulfilled and Young has reached a resolution with his primary creditor," the motion continued. "This development alleviates the need for Young to remain in bankruptcy, and Young can pay his few remaining creditors upon dismissal without the need for continued oversight by the court."

Young's attorney, Brian Kilmer, said in the motion attorneys for Pro Player Funding support dismissal of the bankruptcy case.

Austin attorney Trey Dolezal, who represents Young in the Pro Player Funding and Peoples cases, said in an email, "Vince is getting his financial issues resolved and (is) ready to play football again."

The Pro Player Funding case was one of two lawsuits involving Young over the past year. In the second case, he has reached a settlement with his former business manager, Ronnie Peoples of Raleigh, N.C. But his civil case attorney, Dolezal, said this month that he was waiting on Peoples to "perform" in conjunction with the settlement.

Kilmer was not immediately available for comment, and Sean Bellew, the attorney representing Pro Player Funding, had no comment regarding Friday's motion.

The Chapter 11 petition estimates Young's assets between $500,001 and $1 million and liabilities between $1,001,000 and $10 million. A 2013 financial statement listed assets of Young and his wife, Candice, at $1.8 million and liabilities at $2.5 million, with the bulk of that being the $1.8 million principal due in the Pro Player Funding lawsuit.

Young, the former Madison High and UT star, signed with the Green Bay Packers in August but was cut before the start of the season.

David Barron reports on sports media, college football and Olympic sports for the Houston Chronicle. He joined the Houston Chronicle in 1990 after stints at the Dallas bureau of United Press International (1984-90), the Waco Tribune-Herald (1978-84) and the Tyler Morning Telegraph (1975-78). He has been a contributor to Dave Campbell's Texas Football since 1980, serving as high school editor from 1984 through 2000 and as Managing Editor from 1990 through 2004. A native of Tyler, he is a graduate of John Tyler High School, Tyler Junior College and The University of Texas at Austin.

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